Gap says it's getting rid of some managers as sales slide. One retail expert likens the company to a 'lazy student' unwilling to deliver a 'better performance.'

• Gap announced Thursday that it's cutting back on managers to reduce costs. 
• At the same time, it announced a $273 million net loss for its most recent quarter. 
• Meta and Twitter have also been cutting management jobs in recent weeks.

It's not just the tech industry that's doing away with middle managers. Gap announced Thursday that it is cutting back on these workers to reduce costs and become more nimble.